Rethink climate and the economy
We must work towards a climate transition that puts people at its centre and leaves no one behind.
Since our founding, Vancity has consistently used the tools of finance and our community relationships to expand economic opportunity, improve the wellbeing of our members, and make our communities better for everyone. We continue working to remove barriers to wellbeing and opportunity, whether such barriers stem from legacies of discrimination and exclusion, systemic inequities, or major crises.
The looming climate emergency is the next major crisis on our doorstep. It requires immediate action to transition to a clean economy, recovering the economy post-COVID while drastically reducing emissions. But this transition will fail if some people are left behind by the effects of a dramatically changing world.
A new economy is needed – a resilient economy that works for everyone and aligns people, planet, and prosperity. Vancity is committing to bold action to help realize this vision.
Net-zero by 2040
Our ambition is to make Vancity net-zero by 2040 across all our mortgages and loans. That means the carbon emitted from anything we finance will be eliminated or significantly reduced, with any remaining emissions being brought to net-zero. We’ll start this work by setting our first target for 2025.
Financing an equitable climate transition
Unaddressed, climate change – like the pandemic – will change how we work and live, and will drive further inequality. We will focus our work in financial and social inclusion to provide banking and other solutions to help people who are affected by the climate emergency, as well as those seeking support in transitioning to cleaner and more sustainable living.
Investing in a better future
We will help our members invest for the future we need by offering only responsible investment options that can demonstrate the integrity of their Environmental, Social and Corporate Governance (ESG) screening and stewardship process.
Be transparent and accountable
We will encourage change within the financial services sector by accurately measuring and openly reporting on how our own actions are improving the well-being of people, communities and the environment. We aim to continue implementing, testing, and helping improve emerging international standards for climate and impact reporting.
Walk the talk in all we do
We will live our values in our daily decision-making in order to serve the diverse needs of our members, staff, and communities. We will do our part across our operations to contribute to a just climate transition.
COVID-19 has sent shockwaves around the world, hitting every corner of society — and our pocketbooks. So how do we get through this? And how do we limit the hit to our finances? We’ll not only talk about how to rebuild the economy, but how to make it fairer for people and better for the planet.